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Appeals court says prediction markets should be treated as gambling

The decision conflicts with an earlier appeals court ruling, prompting federal regulators to call for Supreme Court resolution.

Reported · Written up by our desk · Equities

A federal appeals court ruled that prediction markets should be regulated as gambling, overturning a prior appeals court position in a separate ruling, the New York Times reports.

The New York Times says the divergence between the rulings has led federal regulators to argue that the disagreement should be resolved by the Supreme Court.

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